Buying

Victorian MHE operator Lifestyle Communities acquires 12th site while shre price jumps 34%

May 18 2015 Updated May 3, 2023

The Weekly Source

1 min read

James Kellys lifestyle communities has contracted to pay $11.45 million to purchase an MHE site within Berwick waters estate in Clyde North, 60kl SW of Melbourne near Cranbourne (with they already have an established community).

This will deliver 225 home sites at an average of $51,000 each. Lifestyle Communities will then 12 sites with 2,155 home sites, all in Victoria and develop from scratch over 10 years.

Pre Christmas they purchased a site at Officer, north of Cranbourne, and have achieved 23 deposits in the first seven weeks of pre-sales.

On Christmas Eve their share price was $1.86; today it has $2.50 a jump of 34% in six months.

Aged care reforms likely to be delayed

Leaked documents obtained by media outlet Nine reveal the Government is considering delaying implementation of the new Aged Care Act, currently slated for implementation on 1 July 2024, until next year. The documents list the implementation date as...

Caroline Egan

03 Apr 2024

Opinion

Opinion: despite the headlines, delay to new Aged Care Act is good news

The news that the new Aged Care Act will be delayed to January or even July 2025 is hardly a surprise, given there are now just 12 weeks until its planned 1 July 2024 start date – and delivers more time for the sector and Government to get the new...

Lauren Broomham

04 Apr 2024

Government Policy

Aged Care Act delay is the Minister’s “failure”: Opposition

Shadow Minister for Aged Care Anne Ruston has slammed Aged Care Minister Anika Wells for failing to properly inform the sector of delays to the new Aged Care Act and is calling on her to “urgently” inform the sector about when the full exposure...

Caroline Egan

03 Apr 2024

Government Policy

New Quality Standards will come into effect with new Aged Care Act: Department confirms

The Department of Health and Aged Care has confirmed that the strengthened Aged Care Quality Standards will be rolled out at the same time as the new Aged Care Act. “The strengthened Standards have been finalised and will come into effect in line...

Caroline Egan

11 Apr 2024

Oak Tree Group Co-founder Mark Bindon returns to sector with a high-end boutique retirement village and one caveat

Mark Bindon and fellow Oak Tree Group co-founder Franco De Pasquale spent two years researching the retirement sector before setting up the business in 2004. Oak Tree Group grew to own and operate 31 retirement villages across Queensland, New South...

Ian Horswill

14 hours ago

The Tuesday SOURCE

Seniors housing faces becoming “the roadkill of the NSW planning system”

Two major policies recently exhibited by the NSW Department of Planning, Housing, and Infrastructure (DPHI) could have major implications on seniors housing, said Ethos Urban Director Daniel West. The Weekly SOURCE stated last Tuesday that Daniel...

Ian Horswill

15 hours ago

Topic - Developments

Nine years after talks began, Goodwin to build sixth retirement village

Talks began with Community Housing Canberra, the owner of the land in Downer, in Canberra’s north, in 2015, Goodwin’s chair Liesel Wett said. “We were fortunate to finally reach agreement for the sale of the land in 2020,“ she said. A development...

Ian Horswill

15 hours ago

Topic - Developments

First residents move into Summerset Group’s first retirement village in Australia

Summerset Group, the New Zealand-based continuum of care operator, has welcomed Doug and Leslie as its first residents in its first retirement village in Australia: Summerset Cranbourne North, 39km southeast of Melbourne’s CBD. “Sales have picked...

Ian Horswill

15 Apr 2024